SJVNL pays Rs.99.17 crore dividend to Himachal government

Shimla: Power utility Satluj Jal Vidyut Nigam Ltd (SJVNL) Wednesday paid a Rs.99.17 crore dividend to Himachal Pradesh government for the last fiscal, an increase of Rs.14.77 crore from the previous financial year.

Against the 25.5 percent equity share in the company, the state government has been paid a dividend of Rs.99.17 crore against Rs.84.40 crore paid last year, Chairman and Managing Director R.P. Singh said.

The company had earned a revenue of Rs.2,136.79 crore and a net profit of Rs.1,068.68 crore in 2011-12.

SJVNL’s maiden hydropower project, the 1,500 MW Nathpa-Jhakri hydropower project in Kinnaur district, achieved a record generation of 7610.26 million units in the last fiscal against the target of 6,900 million units.

SJVNL is a joint venture between the central and the Himachal Pradesh government. The former held a 74.5 per cent stake, while the remaining 25.5 per cent is held by the state government.

Singh said in a statement that the company had declared a dividend of Rs.388.84 crore in 2011-12.

IANS

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1 Comment

  • It is heartening to see the fruits of a longer vision taken by the then Chief Minister to insist on 25 percent equity in this project despite severe financial constraints at the time of taking the decision. This is a gold mine for a long time to come. One wishes similar participation in other CPSU owned projects was insisted upon at the right time! Even now, the State can afford to buy into equity of the bigger private sector hydel projects rather than insisting on unrealistic free power parameters which may never get realised.

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